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Former Everett Function Hall Sold to Boston Developer

Image courtesy of Google Maps

An Everett development site that’s approved for a 111-unit housing complex was acquired by a Boston real estate firm for $4.25 million.

The parcels at 70 Revere St. and 530 Second St. include the former Silver Fox function hall and a small undeveloped parcel. The property is approved for 150,000 square feet of development in a pair of multifamily residential buildings.

The buyer, 530 Second St. LLC of Boston, was formed in 2020 and lists Jacob Amsterdam-Vance as manager.

Jam Realty Corp. was the seller. Cambridge Savings Bank provided $3.84 million in mortgage financing.

Plans approved by the city of Everett include 11 deed restricted affordable units and 78 parking spaces in ground-floor podiums, according to Matt Lattanzi, Everett’s director of planning and development.

B&T Daily